HI All,
situation is this
I work outside IR35. contract ends at the end of February.
Is it worth working through March in any PAYE or inside IR35 contract?
the problem is I am going to take all my salary and dividends to 50k limit (before higher rate) anyway in this tax year.
so working in PAYE in March would make me pay 40% high rate tax + 10% employees NIC if I am not wrong.
+ I have child benefits around 2k for this year.
so let's say I get paid 6k in March. 6k -50% - 2k = 1k. for the whole month of work. - it looks like there is no point doing that.
Unless I don't understand PAYE and somehow I can work in March and get paid in the next tax year?
Thoughts?
Thanks!
situation is this
I work outside IR35. contract ends at the end of February.
Is it worth working through March in any PAYE or inside IR35 contract?
the problem is I am going to take all my salary and dividends to 50k limit (before higher rate) anyway in this tax year.
so working in PAYE in March would make me pay 40% high rate tax + 10% employees NIC if I am not wrong.
+ I have child benefits around 2k for this year.
so let's say I get paid 6k in March. 6k -50% - 2k = 1k. for the whole month of work. - it looks like there is no point doing that.
Unless I don't understand PAYE and somehow I can work in March and get paid in the next tax year?
Thoughts?
Thanks!
Comment